Shanghai shares rebound on a technical rally

Consumer stocks and cyclical sectors like nonferrous metals help to push shares to close higher.

Shanghai shares rebounded today on a technical rally after giving up gains since last week.

The Shanghai Composite Index rose 0.84 percent to close at 3,117.38 today, led by consumer stocks and cyclical sectors like nonferrous metals.

Jiangsu Lidao New Material Manufacture Co, a Changzhou-based aluminum coil maker, saw its shares surge by the 10 percent daily limit to close at 23.65 yuan.

Since the latter part of last week, China’s A-share market has continued to decline amid increased uncertainty as a result of trade friction between China and the United States, the emergence of geopolitical risks around the world as well as volatility in overseas stock markets.

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